The post Backpack Launches Fee-Free FTX Claims Channel and Expands Recovery Access for Creditors appeared on BitcoinEthereumNews.com.

Key Insights: Backpack enables identity-verified, fee-free sales of FTX claims directly on its platform. Platform expansion includes a credit and bond sale channel to support global FTX users. Backpack acquired FTX EU for €32.7M and now oversees approved creditor repayments in Europe. Backpack has launched a new platform allowing FTX claim holders to sell their claims directly with no fees involved. The process includes identity checks, claim validation, price confirmation, and final settlement within the platform. The company lost $14.5 million to FTX’s collapse and positioned the new feature as a nonprofit solution. Sellers connect directly with institutional buyers, and Backpack does not charge commissions or act as a middleman. Users may sell their claims immediately or retain them for possible future recovery from FTX proceedings. Backpack clarified that the service is optional, and users should decide based on their own circumstances. The platform handles the full transaction internally to reduce delays and minimize risk of fraud. Backpack processes identity verification and claim validation before finalizing any sale. Expansion Adds Credit and Bond Claim Channels Backpack also added credit and bond sales support using the same zero-fee, end-to-end transaction model. The flow mirrors the claims process with KYC checks, validation, offers from buyers, and final settlement. The company acquired FTX EU in January 2025 for €32.7 million and took control of €53 million in repayments. This acquisition granted Backpack a MiFID II license, enabling operations across European Union markets. FTX bankruptcy estate is challenging the legality of that acquisition through ongoing legal action. Cyprus regulators also fined Backpack €200,000 for past compliance violations under its FTX EU oversight. Backpack continues to offer claim sale access in jurisdictions like China and Russia under the same fee-free model. The platform stated that all claim sales are voluntary and should be based on…

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Filed under: News - @ July 18, 2025 8:28 am